- March 23, 1961
Ph.D., Economics, University of Wisconsin, Madison, U.S.
M.A., Economics, Seoul National University, South Korea.
B.A., Economics, Seoul National University, South Korea.
- Research Interests (Major)
- Macroeconomics, International Finance
- Professional Appointments
- Dec. 2022 ~ present
President, Korea Development Institute (KDI)/KDI School of Public Policy and Management (KDIS)
- Oct. 2006 ~ Nov. 2022
Professor, KDI School of Public Policy and Management
- Apr. 2016 ~ Apr. 2020
Member, Monetary Policy Board of the Bank of Korea
- Jul. 2013 ~ Apr. 2016
Chief Economist, Korea Development Institute (KDI)
- Jan. 2008 ~ Dec. 2009
Vice President, Korea Development Institute(Leading the Department of Macroeconomic and Financial Polices)
- May. 1995 ~ Dec. 2008
Research Fellow, Korea Development Institute(Leading the Macroeconomics Division)
- Jun. 2005 ~ Jul. 2006
Senior Counselor to the Deputy Prime Minister, and Head of the Macro-Policy Advisory Team at the Ministry of Finance and Economy
- Sep. 1991 ~ May. 1995
Assistant Professor, Texas A & M University
- Dec. 2022 ~ present
- Public Committees and Scholarly Services
- May. 2013 ~ Apr. 2016
National Economic Advisory Council to President
- May. 2008 ~ May. 2010
Presidential Council for Future and Vision
- Aug. 2007 ~ Dec. 2009
Advisory Committee for Public Service Prices, MOFE
- Mar. 1997 ~ Dec. 2007
Review Committee for the Statistics Publications, National Statistics Office
- Mar. 2005 ~ May. 2005
Advisory Committee for Finance Audit Bureau (Chair), the Board of Audit and Inspection
- Jan. 2004 ~ May. 2004
Policy Advisory Committee for the Prime Minister
- Jan. 2003 ~ Feb. 2003
Presidency Undertaking Advisory Committee
- Sep. 1999 ~ May. 2005
Board of Editors, Korean Economic Studies
- Feb. 2001 ~ May. 2005
Board of Editors, Econometric Studies
- May. 2013 ~ Apr. 2016
- Refereed International Journals
- “Decomposing exchange rates of Asia into financial and real factors,” Asia-Pacific Journal of Accounting & Economics, Vol. 24, pp.377-386, 2017 (with Kyuesook Han).
- “Effects of Quantitative Easing on Asia: Capital Flows and Financial Markets,” The Singapore Economic Review, Vol. 59, No. 3, pp.1-23, July, 2014 (with Changyong Rhee).
- “Aggregate Demand Gap Based on a Simple Structural VAR,” Economics Letters, pp.228-234, February 2012.
- “Time to Shift from Macro- to Micro-Policies,” with Sukha Shin, Journal of Policy Analysis and Management, pp.191-193, November 2011.
- “Crisis and Employment: The Case of Korea,” with Sukha Shin, Journal of Policy Analysis and Management, pp.169-177, November 2011.
- “An Alternative Interpretation of Conditional Convergence Results,” Journal of Money, Credit, and Banking, pp.669-681, November 1996.
- “The Other Side of Conditional Convergence,” with Stephan Graham, Economics Letters, pp.285-290, 1996.
- “The Predictive Ability of Alternative Models of Exchange Rate Volatility," with Kenneth D. West, NBER Technical Working Paper No. 152, Journal of Econometrics, pp.367-391, 1995.
- “Industrialization, Convergence, and Patterns of Growth,” Southern Economic Journal, pp. 398-414, 1994.
- “A Utility Based Comparison of Some Models of Exchange Rate Volatility,” With Kenneth D. West and Hali J. Edison, NBER Technical Working Paper, No.128, Journal of International Economics, pp. 23-45, 1993.
- Book Chapters in International Publications
- “Declining Potential Growth in Korea,” with Kyooho Kwon, Chapter 8 in Sustaining Economic Growth in Asia, edited by Jeremie Cohen-Setton, Thomas Helbling, Adam Posen, and Changyong Rhee, Peterson Institute for International Economics, 2018.
- “Is Korea’s Monetary Policy following in the Footsteps of Japan?” Economic Stagnation in Japan, edited by Dongchul Cho, Takatoshi Ito, and Andrew Mason, Edward Elgar Publishing Inc., pp.202-231, 2018.
- “The Republic of Korea’s Economy in the Swirl of Global Crisis,” The Global Financial Crisis and Asia: Implications and Challenges, edited by Masahiro Kawai, Mario Lamberte, and Young Chul Park, Oxford University Press, pp.182-196, 2012.
- “Responses of the Korean Economy to the Global Crisis: Another Currency Crisis?” Global Economic Crisis: Impacts, Transmission, and Recovery, edited by Maurice Obstfeld, Dongchul Cho and Andrew Mason, Edward Elgar Publishing Inc., pp.57-77, 2012.
- “Interest Rate, Inflation and Housing Price: With an Emphasis on Chonsei Price in Korea,” NBER Working Paper Series #11054, 2005, Monetary Policy under Very Low Inflation Rates, Edited by Andrew Rose and Takatoshi Ito, NBER, Chicago Press, pp.337-373, 2006.
- “Post-Crisis Structural Changes and Monetary Policy Scheme in Korea,” Macroeconomic Implications of Post-Crisis Structural Changes in Korea, Edited by Lee-Jay Cho, Dongchul Cho and Yoon Hyung Kim, 2005.
- “Macroeconomic Impacts of a Revaluation of the Chinese Yuan on South Korea,” Exchange Rate Regimes in East Asia, Edited by Fred Bergsten, IIE, 2004.
- “The Monetary Policy Response to the Crisis,” The Korean Economy Beyond the Crisis, Edited by Duk-Koo Chung and Barry Eichengreen, Edward Elgar Publishing Inc., pp.89-112, 2004.
- “Interest Rates and Exchange Rates in the Korean, Philippine and Thai Exchange Rate Crises,” with Kenneth D. West, Management of Currency Crises, Edited by Jeffrey Frenkel and Michael Dooley, NBER, Chicago Press, pp.11-35, 2003.
- “The Currency Crisis of Korea: Internal Weakness or External Interdependence?” with Ki-Seok Hong, Regional and Global Capital Flows: Macroeconomic Causes and Consequences, NBER, Edited by Anne Krueger and Takatoshi Ito, Chicago Press, pp.337-373, 2001.
- “Liberalization of Capital Flows in Korea: Big-Bang or Gradualism?” with Young-Sun Koh, NBER Working Paper Series #5824, 1997, Changes in Exchange Rates in Rapidly Developing Countries, Edited by Takatoshi Ito and Anne Krueger, Chicago Press, pp.285-308, 1999.
- Book Editing
- Macroeconomic Implications of Post-Crisis Structural Changes in Korea, With Lee-Jay Cho and Yoon Hyung Kim, Korea Development Institute, 2005.
- Global Economic Crisis: Impacts, Transmission, and Recovery, With Maurice Obstfeld and Andrew Mason, Edward Elgar, 2012.
- Growth Crisis and the Korea Economy, Routledge (Taylor & Francis Group), 2015.
- Economic Stagnation in Japan, With Takatoshi Ito and Andrew Mason, Edward Elgar Publishing Inc., 2018.
- Economic Dynamism of Korea: With a Focus on the Comparison with Japan, Korea Development Institute, 2015
- Korea’s Capacity to cope with Crises in a Globalized Environment, With Hyun-wook Kim, Korea Development Institute, 2011.
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